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Beth's Journey to Make Her Millions


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Beth's Journey to Make Her Millions

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  #431 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Big Mike View Post
I am sorry to say, satellite internet will be very, very bad for scalping. It has a great deal of latency. If you were swing trading or using limit orders, sure. But if 3-5 seconds matter, satellite is going to be a problem.

You might search around on internet try to find some stuff related to satellite latency or satellite ping times.

I would say that even a wireless phone company might have a faster network than satellite, but I can't speak from experience.

Mike

Thanks Mike for your prompt response/advice. You can read my mind again! I worry about the 3-5 seconds delay though having a reliable Internet connection is very important too. Without a connection, I simply cannot trade or even dare to place a trade when I don't know if I may be caught in a disconnection the next second. I'm really torn.

On a second thought, maybe it's a test to my patience when I am quite geared up to trade live and now this issue. Our current Internet service provider is a wireless phone company (they were the first one offering an external modem service last year). There must be more vendors now and we will definitely investigate further other than the satellite internet option.

Nelson climbed up the 60' TV tower 2 times already this morning to adjust the modem. I cannot even look. I rather not trade than having him up there!

Beth

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  #432 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Internet has resumed working since 10:00 am and I was able to identify the enclosed 2 trades. Another green morning .. will it be 5 days in a row? Let's keep our fingers crossed .. smile ..

Goals Accomplished:

1. A trades in my mind as I was confident when placing both.

2. Preserve Precious Capital (replacing Price Action since it'll remain B for a while until I advance further) is an A as well because I have BE/Trail instructions in good order. Don't feel bad when the revised SLs were hit. There are always profitable trades waiting for me!

Emotion: Very calm though I did worry I may get disconnected.

Additional Note on the new Snapback indicator: Having it for 2 days, I do like it as it gives me more reassurance on trade signals.

Beth

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  #433 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Initial Balance (IB): 1072.75 - 1080.00 (7.25 points)
Value Area (VA) as at 11:00 am: 1073.00 - 1076.50 - 1078.00 (5 points)
Price opened @1075.75
Today's High and Low as at 11:00 am: 1080.75 and 1072.75

You can tell today's IB and VA are very narrow compare to yesterday's. Well, my expectation: either the narrow range will stay or more likely rotate up or down to extend the trading range. See, I am now talking like most advisors .. either or .. will always be right LOL!

My recommendation: Trade with the Flow.

My realization: There're no counter-trend trades when one is trading with the Trend and wants what the Market wants!!

Beth

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  #434 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Another great trade when price touched the Top VPOC 1086.25 and got rejected (take note of the selling tail). Certainly the red bar and red snapback line on the 4-Range chart helped.

Out for lunch now.

Beth

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  #435 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Price currently trades around 1101.75 (outside yesterday's Value Area 1073.50-1087.00). In addition to the two VPOCs Top @1133.00 and Low @1084.50, I will also pay attention to the following:

Overnight Low 1095.25
Overnight High 1104.75

Certainly there are other prices that may pose as Support and Resistance (quite often for the first touch) such as yesterday's Close @1097.00 or High @1098.25. The more I notice, it really doesn't matter what system or S/R or pivot reference one used (2 traders could be trading short and long within the same timeline and both make money) AS LONG AS HE/SHE is trading with the Trend!

Happy & Successful Trading!

Beth

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  #436 (permalink)
 wgreenie 
Cambridge, Ontario
 
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A baby green morning and it's a heavy-duty one too ..

Goals Accomplished:

1. 3 A- trades. Minus because the revised SLs got hit LOL though the trades aligned with the trend!

2. Preserve precious capital A+ because the BE/Trail features do provide a cushion.

Internet Update: Nelson climbed up the 100' TV tower again yesterday (he corrected me that it's not 60') and the modem is now pointing at another tower quite far away. The signal is weaker and yet more reliable (not many trees/buildings in-between). Only one short disconnection so far. Good for now though visiting websites and download etc really really turtle ..

What's Next?

Have to monitor the Internet connection for a few more days. Everything back to normal .. then cushion some live trades (+ Intermediate promotion) .. haha ..

Oh, I got several giant bites Tuesday (after a bike ride). They're worse than the Myrtle Beach ones. Swell like a playground and itchy itchy (+ inflammation) overnight. How could I miss them when they attacked me .. always after the fact .. sigh .. If you are aware of any effective bite-prevention tips and/or after-bite soothing remedies, please private message me. Thank you.

Beth itchy itchy ... oooo

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  #437 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Trading: 6E
 
Posts: 1,773 since Dec 2009
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Initial Balance (IB): 1098.25 - 1105.25 (7 points) - Very narrow like yesterday though it's 18 points up!
Value Area (VA) as at 11:00 am: 1098.50 - 1101.00 - 1104.00 (5.50 points) - Very narrow and way up as well!
Price opened @1101.50
Today's High and Low as at 11:00 am: 1105.25 and 1096.50 (8.75 points)

My Expectation: It will rotate either up or down to extend the trading range .. smile ..
My Recommendation: Trade the candle/bar in front of you.

Beth

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  #438 (permalink)
 wgreenie 
Cambridge, Ontario
 
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In addition to the daily Initial Balance (range of the first two 30-minute brackets), I find the upper and lower 2 horizontal brown lines (50% and 100% of the IB) quite useful to detect acceptance and rejection.

Today's Low is currently @1090.75 (2 ticks below the Lower 100% IB brown line) and may represent Support (at least for the first fall). One may buy with the responsive buyers.

Beth (Hey, I just noticed my tabulation error. I've traded 28 days since 19 Apr and not 23 .. somehow I omitted a week. Soooo, my official record as of this moment: 27 green vs 1 red LOL! )

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  #439 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Trading: 6E
 
Posts: 1,773 since Dec 2009
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I just came across the subject as follows:

VPOCs: 1051.50 - 1084.25 - 1113 - 1153.25 (Quite close to mine except the underlined one .. mine is 1133 maybe a mistake from my side ..)

Gaps: 1061 - 1069.25 - 1109.75 - 1151.75 - 1156.25

Note: Believe the VPOCs derive from a volume-based Market Profile.

Enjoy!

Beth

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  #440 (permalink)
 Big Mike 
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Good job Beth.

Here's hoping tomorrow is good, too, and a nice end to a nice week.

Mike

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